FutureBrand showcasing Third Annual Gulf Real Estate Study at Cityscape Abu Dhabi

FutureBrand, a leading international brand consultancy firm with offices in 20 cities around the world, is promoting its third annual Gulf Real Estate Study (GRES) at Cityscape Abu Dhabi taking place until 15 May 2008, at the Abu Dhabi National Exhibition Centre (ADNEC). The study provides a comprehensive industry overview examining the forces, trends, developer rankings and branding importance in the regional real estate market.

GRES 2007, which also includes industry news and trends, and ‘mystery shopper’ research findings, is the most comprehensive study produced by FutureBrand to-date. Compiling proprietary qualitative and quantitative research data, the study includes valuable industry research that provides unique insights into Gulf real estate development, and reveals the preferences of homebuyers and development professionals.

“GRES has become an essential reference for the regional real estate industry, especially in the UAE where the real estate sector is expected to post a growth rate of up to 24.4%; combining with the construction industry to constitute 23% of the UAE economy by 2010. Our results show that total development projects in the country, planned and underway, increased by 79% between 2006 and 2007; with branding and marketing becoming more important and significant in building preference and buyer loyalty,” said Rina Plapler, Senior Executive Director at FutureBrand.

The latest GRES also considers industry concerns from the perspective of the developers and governments, addressing topical issues such as rising inflation and costs of living, increased attention to the environment and sustainability, the proliferation of luxury, and the correlation between branding and real estate.

Host city Abu Dhabi takes a prominent role in the study; with an estimated AED 34.89 billion in real estate projects to be awarded to contractors during 2008 alone.

“The Gulf’s real estate industry continues to surge despite currently volatile global economic conditions. The sector’s rapid expansion is worthy of continued examination and emulation and is an example within the Arab World of how diversification, visionary leadership and progressive business policies can realise sustained progress” Plapler added.

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